Romania sets maximum prices for its first CfD RES auction

Romanian Minister of Energy Sebastian Burduja said that Romania will soon open its first RES auction under a contract-for-difference (CfD) scheme, with a maximum price of 91 euros/MWh for solar projects and 93 euros/MWh for wind projects.

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Minister Burduja said that the 3 billion euros scheme, approved by the European Commission last week, is expected to be approved by the EU Modernization Fund by the end of the month. Romania will be the first country that uses the Modernisation Fund to finance its CfD scheme.

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The plan involves two auctions, with the first one scheduled for this year, offering 2 GW of projects: 1 GW allocated for onshore wind and another 1 GW for solar projects. In 2025, the second auction will increase to 3 GW, with 1.5 GW in wind and solar each.

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The CfD scheme enables the price of electricity to be fixed at a predetermined level for 15 years.

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Under the scheme, beneficiaries receive compensation payments if electricity prices fall below the agreed-upon threshold. On the other hand, if prices exceed this threshold, recipients are obligated to reimburse any surplus to the state.

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